THE EXPERTS

Jessica Matthysen, head of Empower at Alexander Forbes: “I was just out of high school and had started my first proper job. I came home chuffed, with money in the bank, dreaming of all the things I’d buy. First thing my mother said to me was, ‘Girl, pay yourself first.’ In other words, save – because all the money you earn goes to other people. To illustrate, she showed me how money for rent, water, electricity and food should be deducted first. Then she said, ‘Of the money left over, put some away. The rest you can spend as you see fit.’ Starting like that meant I didn’t miss the money as I didn’t have it to spend in the first place.

“A few years later, the money I managed to save allowed me to buy a plane ticket to the UK, a working holiday visa and three months living there.

“But living in the UK didn’t work out for me. I came back, got another job and followed the same principle. I managed to buy my first car, second-hand, cash and debt-free!

“The lesson of saving and delayed gratification provided for a lot of big-ticket items in my life that I otherwise wouldn’t have been able to afford.” Richus Nel, PSG Wealth: “People often underestimate the hidden costs of doing everything by themselves when they should get proper guidance. Rather surround yourself with professional expertise when making important or irreversible plans.

“A mistake I see many investors make is that their first experience with investing and financial advisers is only very close to retirement or when their fear of mistakes is greatest.

“Rather establish a relationship with a reliable investment adviser long before you retire.”